SFO set for Aero Inventory accounting probe

The black hole in the accounts of collapsed airline parts business Aero Inventory could be the focus of an investigation by the Serious Fraud Office.

Its board wants the SFO to look into whether there is a case to answer after the company entered administration last month soon after it found accounting mistakes in a Canadian contract, reports The Times.

Chief executive Rupert Lewin and FD Hugh Bevan were removed from their roles after its AIM shares were suspended on 26 October when announcing a delay in publishing its final accounts

Administrators from KPMG were appointed to the business in November.

Business development director Colin Trupp was appointed acting chief executive, while Swag Mukerji was appointed in charge of its financial operations.

Mukerji is an experienced FD with roles at Priory Group and Biocompatibles International.

Further reading:

Aero thrown into tailspin by downturn